Trade deal step closer.BAHRAIN has moved a step closer to signing a Free Trade Agreement (FTA FTA abbr. Future Teachers of America ) with Singapore. MPs urgently approved the plan during the yesterday's weekly parliament session. The FTA now only has to be approved by the Shura Council
The Shura Council (Arabic: Majilis Al-Shura مجلس الشورى) is the upper house of Egyptian bicameral Parliament. and ratified by His Majesty
Parliament chairman Khalifa Al Dhahrani Khalifa Al Dhahrani is the Speaker of the Council of Representatives of Bahrain and is therefore the most senior MP in parliament. At the age of 65 he is the oldest MP and while not a member of any political party is generally considered to have conservative mildly Islamist said the FTA would present both countries with mutually beneficial opportunities in all fields. He said it would ensure an open market for Bahrain and Singapore, who already have long-standing, strong diplomatic, economic and trade relations. "This agreement will certainly help facilitate and promote an even greater flow of goods, services and investment between the countries and strategically link the Gulf region with Singapore, considering that other GCC GCC: see Gulf Cooperation Council. (compiler, programming) GCC - The GNU Compiler Collection, which currently contains front ends for C, C++, Objective-C, Fortran, Java, and Ada, as well as libraries for these languages (libstdc++, libgcj, etc). countries have also agreed to sign FTA agreements with the country," said Mr Al Dhahrani. Singapore's CapitaLand became the first Singaporean mega company to invest in the Middle East when it joined forces with Bahrain-based investment bank Arcapita, whose regional headquarters are based in Singapore, for the Bahrain Bay development. In October last year, both countries' stock exchanges entered into a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MoU) to explore opportunities for collaboration to benefit their financial services industries. Bahrain and Singapore already have signed FTA with the US. Copyright 2009 Gulf Daily News Provided by Syndigate.info an Albawaba.com company |
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